more on Americans saving less than nothing

[David Farber <dave () farber net>]

Begin forwarded message:

From: Russell Nelson <nelson () crynwr com>
Date: January 11, 2006 1:53:22 AM EST
To: dave () farber net
Cc: Steve Schear <s.schear () comcast net>
Subject: Re: [IP] Americans saving less than nothing

> > From: Steve Schear <s.schear () comcast net>
> > Date: January 8, 2006 9:16:49 PM PST
> > To: dewayne-net () warpspeed com
> > Subject: Re: [Dewayne-Net] Americans saving less than nothing

> > The savings situation is made far worse by the enormous balance of
> > trade deficit, public and private debt (and average of > $350,000/
> > citizen) versus their net worth (< $50,000).

A trade deficit is not debt.  It's very easy to understand why.  You
always have a trade deficit with your local grocery store.  You buy
and buy and buy from them, and they never buy anything from you.  Yet
you do not owe your grocery store any money.  Neither you nor the
grocery store owners think the deficit is bad.

--  
--my blog is at     blog.russnelson.com         | A computer without  
Python is
Crynwr sells support for free software  | PGPok | like a CPU without  
memory:
521 Pleasant Valley Rd. | +1 315-323-1241       | it runs, but you  
can't do
Potsdam, NY 13676-3213  |     Sheepdog          | anything useful  
with it.


-------------------------------------
You are subscribed as lists-ip () insecure org
To manage your subscription, go to
 http://v2.listbox.com/member/?listname=ip

Archives at: http://www.interesting-people.org/archives/interesting-people/